AML/CFT Compliance

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Anti-Money Laundering services and Combating the Financing of Terrorism (“AML/CFT”) enactment implies serious diligence to be met by reporting entities. Governments worldwide have been working on making the Compliance laws stricter to stop illegal financing through ML.

An association’s AML/CFT controls can be easily sabotaged by a helpless culture of inconsistency. Solid AML compliance in an organisation can help forestall weaknesses and help distinguish issues before them becoming a major problem.

In September 2018, UAE introduced Federal Decree-law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism, and related Regulations were issued under the Cabinet Decision No. 10 of 2019 in February 2019 which requires, followings are liable to register for on goAML platform:

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About AKW

There is a dearth of AML Specialists worldwide. It is a niche technical subject that requires relevant experience and qualification.

AKW has a specialist team of consultants which includes ex-bankers and consultants with relevant AML Compliance experience and ACAMS qualification and have worked on multiple engagements involving development of AML Policies & Procedures for Financial Institutions and DNFBPs, KYC Remediation for UAE Tier 1 banks and Real Estate Companies, Compliance Monitoring and Testing for large banks in Kuwait and Bahrain, setting up CDD Utility and Transaction Monitoring and Sanctions Review team for a multinational bank and providing outsourced Compliance Officer Role for DNFBPs to meet the UAE AML requirements as per Section 8 Article (21) of the Cabinet Decision No.10.

  1. AKW Consultants Group is led by Mr. Faisal Ahmed, Managing Partner & CEO, a qualified Chartered Accountant with 21 years of Big4 Advisory experience working for 6+ years with KPMG, 8+ years with PwC London, 3+ years with HSBC Middle East & London Office as the Global Head of Client Due Diligence in AML Compliance Function for Global Banking and Markets.
     
     
    Mr. Faisal Ahmed from AKW has been leading consulting practice around AML, Compliance, Audit and Taxation practice in the Middle East since 2015. Prior to his consulting firm, he served for 3+ years as a Senior Director with HSBC where he advanced the Client Due Diligence (CDD) function and headed up AML Policy Implementation, CDD & KYC Training, KYC Client Adoption, Target Operating Model, Strategy & Change, Global KYC Book of Work Management, & Client Management Due Diligence Departments.
     
     
    Mr. Faisal Ahmed specialises in Anti-Money Laundering & Counter Terrorist Financing field and has been an industry leader advising many international and local Financial Institutions on the AML Compliance subject. He led the Global AML Standards design and development programme for HSBC and subsequently has worked on many AML engagements for Banks across the GCC Region. In addition to AML Advisory, Mr. Faisal Ahmed specialises in Financial Crime Compliance, Customer Due Diligence, KYC Operations, Anti-Bribery and Corruption, International Taxation and UAE VAT, implementation of Process Improvement, HR & People and Change Management. He is recognised as a Subject Matter Expert on AML and Fraud matters and is an Expert Trainer in these areas.

Why AKW?

Served over 500+ businesses in UAE

A team of over 30+ Experts

International and Local GCC experience

Customer-Centric

Cost Effective Value added services to clients